NSE offers $118 million to settle Sebi case, revive IPO
The National Stock Exchange of India Ltd. is said to be offering a record amount of about 10 billion rupees ($118 million) to settle a longstanding dispute with the country’s market regulator.
The Securities and Exchange Board of India will discuss the offer, and a decision is expected soon.
The regulator is inclined to settle the legal issue, which would enable the world’s largest derivative exchange by contracts to secure a no-objection certificate.
SEBI had previously halted NSE’s listing plans due to several ongoing cases dating back to 2015, involving allegations that some high-speed traders gained unfair access to its co-location servers. The regulator’s investigation not only derailed the exchange’s IPO ambitions in 2016, but also later resulted in the NSE being banned from accessing capital markets for six months.
